News

Russia increases exports of vegetable oil to Egypt

Published Feb 16, 2024

Tridge summary

Over the past five years, Russia has significantly increased its vegetable oil exports to Egypt, with a 1.5 times increase in volume and a 3.3 times increase in value, reaching 486 thousand tons and $475 million respectively in 2023. The country has been focusing on supplying agricultural products, particularly sunflower oil, to friendly states like Egypt. As a result, Egypt has emerged as the leading African importer of Russian sunflower oil.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the end of last year, this country became the leader among African importers of Russian sunflower oil Over the past five years, the Russian Federation has increased the export of vegetable oils to Egypt in physical terms by more than 1.5 times - up to 486 thousand tons in 2023. In value terms, shipments increased more significantly—by 3.3 times, to $475 million. This was reported by Kirill Lozovoy, an analyst at the OleoScope information and analytical agency. “In recent years, Russia has been reorienting itself in the supply of agricultural products to friendly states, in particular to Egypt, where the export of oils has intensified,” the expert said. He noted that the Russian Federation is now selling sunflower oil to this region—in 2023, shipments amounted to 393 thousand tons versus 269 thousand tons in 2019. Exports of soybean oil reached 93 thousand tons (there were no sales in 2019). “Domestic production of both oilseeds and oils is insignificant and does not cover ...
Source: Specagro
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